The verdict comes on just the second day of jury deliberations.
The jury of six white people and six people who are Black or multi-racial began deliberating on Monday shortly after the prosecutorial and defence teams finished delivering their closing arguments.
Chauvin, 45, was charged with second-degree murder, third-degree murder and second-degree manslaughter in the death of Floyd.
He pleaded not-guilty to all charges.
Chauvin sat in the Hennepin County Courthouse dressed in a grey suit as the verdict was read.
Chauvin’s bail has been revoked and his bond has been discharged to the county sheriff’s office.
Floyd, a 46-year-old Black man died after he was arrested for allegedly passing a counterfeit $20 bill at a convenience store in Minneapolis.
Video captured by bystanders during the arrest showed Chauvin, one of four Minneapolis police officers, kneel on Floyd’s neck and back for more nine minutes and 29 seconds.
Derek Chauvin trial goes to jury after closing arguments
In the video, Floyd can be heard gasping for air and pleading for his life.
The video sparked international outrage, and was the catalyst for protests against police brutality and racial injustice across America and around the world.
In Minneapolis, calls to disband and defund the police mounted.
During the three-weeks-long trial, the jurors heard from bystanders who witnessed the arrest, doctors at the hospital where Floyd was taken and members of the Minneapolis police force.
Ultimately, the 12 jury members were tasked with deciding whether Chauvin’s actions were a “substantial causal factor” in Floyd’s death and whether the his use of force was unreasonable.
During closing arguments on Monday, Chauvin’s lawyer argued that there was reasonable doubt related to whether the former police officer’s actions were in accordance with the force’s policies, and whether Chauvin’s actions had, in fact, caused Floyd’s death.
Defence also argued Floyd had a heart condition and pointed to illegal drugs found in his bloodstream, saying those ultimately led to his death.
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Minnesota prosecutors argued that it was Chauvin’s actions which caused Floyd’s death, and that the officer had used excessive force.
Earlier on Tuesday, U.S. President Joe Biden called the case “overwhelming,” adding that he had spoken with Floyd’s family on Monday.
“They’re a good family and they’re calling for peace and tranquility no matter what that verdict is,” he said. “I’m praying the verdict is the right verdict. I think it’s overwhelming, in my view. I wouldn’t say that unless the jury was sequestered now.”
The president has repeatedly denounced Floyd’s death but previously stopped short of commenting on the trial itself.
Stores in the city have also boarded up their windows in anticipation of protests.
More to come…
— With files from The Associated Press
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